p p 1. Pay on time. Late payments can lower your score. 2. Keep balances low. Try not to use more than 30% of your credit limit. 3. Avoid too many new accounts. Too many credit inquiries can hurt your score. 4. Check for mistakes. Get a free credit report every year and fix errors if you see any. 5. Keep old cards open. Longer credit history can help your score. Example: People with scores above 760 can sometimes get mortgage rates up to 1% lower than those with lower scores. That can save hundreds of dollars a month.
3. TALK TO A FINANCIAL PLANNER
Why it matters: A financial planner can help you plan for the future and find ways to save on taxes. They can also help you invest your money wisely. How to do it: Find a licensed planner. Look for someone with good credentials and reviews. Set clear goals. Think about retirement, college funds, or other savings goals. Ask questions. Learn about different accounts (401(k), IRA, or brokerage) and how they might help you save on taxes. Example: The CFP Board says families who work with a planner often save more money over time and feel less stress about their finances. Why it matters: A higher credit score can lower your interest rates on loans and credit cards, saving you money each month. Top 5 Tips to Boost Your Score: 1. Pay on time. Late payments can lower your score. 2. Keep balances low. Try not to use more than 30% of your credit limit. 4. INCREASE YOUR CREDIT SCORE
5. REVIEW MONTHLY SUBSCRIPTIONS
Why it matters: Many of us sign up for streaming services, music apps, and more. These small monthly costs add up quickly.
How to do it: Check your credit card statement. List every subscription.
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